Market - EUON
Environment - Overview - Market - Text
The commercial market for nanotechnology in the field of environment includes: soil remediation, water remediation, air remediation, and sensors.
Many companies identify themselves as being active in the area of nanotechnology. Where their product is generic with many applications in a wide range of sectors, one of which is environment, their product will often not appear as environment-specific. Here efforts have been made to identify only products that are environment-specific thereby increasing the relevance (but reducing the number) of products.
Global sales of nanotechnology products for air remediation applications accounted for nearly USD 9.4 billion in 2014. During the forecast period of 2015 through 2020, the market is expected to grow at a compound annual growth rate (CAGR) of 10.3%, to reach USD 16.7 billion in 2020. The nanotechnology market for water remediation applications totalled nearly USD 8.2 billion in 2014, and is expected to grow at a CAGR of 12.4% to reach USD 16.6 billion in 2020. Soil remediation applications accounted for nearly USD 5.9 billion in 2014 with forecast growth of CAGR 6.4% to reach USD 8.4 billion in 2020 (BCC Research (2015), Nanotechnology in Environmental Applications).
The soil remediation market (BCC Research (2015), Nanotechnology in Environmental Applications: The Global Market) is divided into three types of application: natural, incidental and engineered. Natural applications refer to the in situ use of nano-organic particles in remediation, such as bacteria. In incidental remediation the contaminated soil is removed and stored and / or treated ex situ. In engineered applications remediation is done in situ with the help of engineered nanomaterials. A further characterisation is the market for nanomaterials (or particles) used in soil remediation. The market size in terms of sales are described in this section, starting with natural, incidental and engineered applications.
The nanotechnology market for natural applications in soil remediation is forecast to increase from USD 2.4 billion in 2014 to USD 3.4 billion in 2020. Nano-organic particles, such as bacteria, have found use in soil remedial treatments. The nanotechnology market for incidental applications in soil remediation is expected to reach USD 2.7 billion in 2020. The nanotechnology market for engineered applications in soil remediation is forecast to reach nearly USD 2.3 billion in 2020. Recent developments of nano-wires comprising potassium manganese oxide can clean up oil and other organic pollutants, while making oil recovery possible. The nanotechnology market for nanoparticles used in soil remediation is forecast to rise to USD 3.6 billion in 2020. (BCC Research (2015), Nanotechnology in Environmental Applications: The Global Market)
The global market for ground water remediation has three main segments: ground water remediation, trace contaminant detection and surface water treatment. It is forecast that the nanotechnology market for groundwater remediation applications will increase from USD 3.4 billion in 2014 to USD 7 billion in 2020. Trace contaminant detection is expected to increase from USD 2.6 billion in 2014to reach nearly USD 5.2 billion in 2020. The nanotechnology market for surface water treatment is forecast to rise from USD 2.1 billion to reach USD 4.4 billion in 2020. (BCC Research (2015)
In terms of nanomaterials the most important markets are those for carbon nanotubes (CNTs), titanium dioxide, zero-valent iron, calcium carbonate and iron oxide.